U.S. and six Middle Eastern countries target Hezbollah's funding network in joint financial sanctions

[Financial News] As U.S.-Iran negotiations over a ceasefire continue to stall, the United States and six Middle Eastern countries have moved to impose financial sanctions targeting Lebanon's pro-Iranian armed group Hezbollah.
The U.S. Department of the Treasury said on its website on June 30 local time that member countries of the Terrorist Financing Tracking Center (TFTC) had taken coordinated designation measures against several key elements of Hezbollah's financial network. The sanctions target five entities and 16 individuals. The list includes Al-Qard al-Hasan (AQAH), Bayt al-Mal, and senior leaders of the groups. AQAH is a Hezbollah-linked underground financial institution based in Lebanon. Bayt al-Mal serves as Hezbollah's unofficial treasury.
The TFTC is an international coalition aimed at cutting off terrorist financing. It is co-chaired by the United States and Saudi Arabia, and its seven members include Bahrain, Kuwait, Oman, Qatar, and the United Arab Emirates (UAE). The group was established in May 2017 during the first Trump administration and has now carried out nine joint actions. This is the third such move under the second Trump administration.
In a statement, the Treasury Department emphasized, "The terrorist organizations designated by the TFTC today threaten regional stability, international security, mutual interests and global trade." It added, "By cutting off Hezbollah's funding channels, TFTC member countries are protecting the integrity of the international financial system, supporting the people of Lebanon and countering terrorist networks."
Meanwhile, Israeli Prime Minister Benjamin Netanyahu said he would not leave Lebanon even though the U.S.-Iran ceasefire memorandum calls for an end to fighting in Lebanon. During a visit on June 30 to an IDF position in Southern Lebanon, Netanyahu said, "I will not leave Southern Lebanon until the threat from Hezbollah is completely eliminated." He added, "As long as armed Hezbollah remains here and threatens us, we will stay here too."


pjw@fnnews.com Park Jong-won Reporter